Upgrade Halifax Reward or open new ISA with Santander?

tsb88

Hi everyone,

I have a Halifax Reward 3 opened in December last year at 2.80% plus 0.2% bonus.

I am planning to upgrade this to Reward 4 via the online upgrade link (Can't post links yet)

After I have done this from what I have read on here I am still free to open a new ISA as the upgrade does not count as subscribing to an ISA?

I was thinking of then opening the Santander 3.50% ISA to start putting in this years allocation, though I've heard a lot of bad things about Santander... If it was you, would you bother opening the Santander for the extra 0.3% or just add to Halifax?

I was thinking of opening their current account as well to grab the £100, so with that additional incentive it is probably worth it I am guessing, but curious if others would do the same?

Thanks

Baldur

tsb88 wrote: »

After I have done this from what I have read on here I am still free to open a new ISA as the upgrade does not count as subscribing to an ISA?

Correct

I was thinking of then opening the Santander 3.50% ISA to start putting in this years allocation, though I've heard a lot of bad things about Santander... If it was you, would you bother opening the Santander for the extra 0.3% or just add to Halifax?

I was thinking of opening their current account as well to grab the £100, so with that additional incentive it is probably worth it I am guessing, but curious if others would do the same?

You would have to open a current account and pay in £1,000 per month to qualify for their 3.5% Loyalty Fexible ISA - the 3.3% Flexible ISA has no such requirement.

The Loyalty ISA is being withdrawn at the end of this month, according to posts elsewhere on these forums.

If you can live with 'iffy'/no Faster Payments and pretty abysmal customer service, it may be worth £100 to you, but I wouldn't bother.

opinions4u

It all boils down to your service expectations.

If they're low, it seems Santander is the place to go.

If it was me, I'd top up the Halifax one at 3.2%. If I was feeling particularly tarty, I'd open an AA one at 3.35%, but I'm not. And I keep forgetting my AA passwords!